The client is a leading provider of aseptic packaging services for the food, dairy, and beverage industries in the European Union.
The client’s accounts payable team was manually processing the invoices received from its vendors/suppliers. On an average, it required about 5 to 15 days to process an invoice. The steps involved in this included – receiving the invoice, reviewing the invoice, approving the payment for the invoice, and making the payment to the suppliers/vendors.
Manual processing increased the transaction costs and administrative overheads, leading to an ineffective procure-to-pay cycle. The errors in manual processing led to delayed settlement, incomplete and duplicate payments, penalties imposed by the vendors/suppliers for late payment, and suppliers delaying the items ordered due to delayed payment.
The client decided to implement Robotic Process Automation (RPA) to automate, streamline, and enhance the efficiency of AP processing operations. They engaged HTC Global Services to design, develop, and implement the customized RPA solution.